Nairobi-based ARM Cement has announced the resignation of Rick Ashley as a Director of the company, as well as Ramesh Vora as Company Secretary. The company made the announcement in a letter to the Kenyan Capital Markets Authority.
Ashley had served on the company’s Board of Directors, including a stint as Chairman, for over a decade and resigned “due to personal reasons”, the company said. He had been appointed an Executive Director last year to take over day-to-day operations from CEO Pradeep Paunrana.
According to local media reports, Paunrana will resume full-time management of the company.
The resignation of Vora, an ARM veteran, comes after he requested the board “to allow him to leave after serving for over two decades”.
“The board of directors record their sincere appreciation to both for their dedicated service, leadership, and guidance to the board,” said Paunrana.
Based in Kenya, ARM Cement operates cement production facilities in Kenya, Tanzania, and Rwanda. According to the company’s website, its cement production capacity currently totals 2.7 million tpy across the three countries with 1.6 million tpy of that located in Tanzania.